Calvin Barry Defends "Exchange Bandit"

‘Exchange bandit’ whose trail included Kitchener pleads guilty

Toronto Police Service
Bank robbery suspect Kevin Pinto, dubbed the "Exchange Bandit".

Toronto Police Service
Bank robbery suspect Kevin Pinto, dubbed the "Exchange Band ...
Toronto Police ServiceBank robbery suspect Kevin Pinto, dubbed the "Exchange Bandit".

September 16, 2009 By Betsy Powell and Nick Aveling, Toronto Star
Former financial compliance officer Kevin John Pinto pleaded guilty Wednesday to 10 counts of robbery.

Pinto, the vice-president of compliance at a Toronto investment firm, turned himself in on May 8 after the Canadian Bankers Association posted a $10,000 reward for the capture of the so-called “Exchange Bandit.”

He was charged with 10 counts of robbery.

Pinto was one of two compliance staff at Paradigm Capital, an investment firm with offices in Toronto and Calgary. He was responsible for providing oversight and ensuring the firm’s trading activities complied with regulatory requirements.

He had previously worked for National Bank.

A suspect in the Exchange Bandit case had been sought for at least 21 robberies – in Toronto, Peel, Kitchener, St. Catharines and Niagara Falls – dating to 2003.

The most recent heist took place Sept. 12, 2008 at a Scotiabank on King St. W., just minutes from Paradigm’s offices.

He was called the Exchange Bandit because of his habit of asking tellers about US exchange rates before producing a note demanding cash.
Pinto committed the robberies to feed his gambling addiction, said his lawyer Calvin Barry.

“He is very remorseful. He’s had a lot time of think... as people do when they are behind bars,” Barry said.

“He wanted to deal with his gambling addiction and wanted to get it behind him,” he added explaining why his client pleaded guilty.

He is scheduled to return to Old City Hall for a sentencing hearing on Oct. 13.